Bharat Road Network Ltd. (BRNL) AI Stock Analysis

• Market Cap: ₹1.72B
• Dividend Yield: N/A
• Average Volume (3M): 31.95K
• Price to Earnings (P/E): 1.0
• Beta (1Y): 1.22
• Revenue Growth: -43.40%
• EPS Growth: N/A
• Country: IN
• Employees: 166
• Sector: Services
• Sector Strength: N/A
• Industry: Industrial - Infrastructure Operations
• EPS (TTM): 1.22
• Shares Outstanding: 83,950,000
• 10 Day Avg. Volume: 64,803
• 30 Day Avg. Volume: 31,950
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹22.00
• Price Target Upside: 7.58% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 56 Neutral
• Price Target: ₹22.00 ▲(7.58% Upside)

The overall stock score of 56 reflects the company's financial challenges, including high leverage and inconsistent revenue growth, which are partially offset by signs of improvement in net income and free cash flow. Technical analysis shows moderate strength, while the low P/E ratio suggests undervaluation. The absence of earnings call data and corporate events limits further insights.

Bharat Road Network Ltd. Business Overview & Revenue Model

Company Description

Bharat Road Network Limited designs, develops, builds, owns, operates, and transfers road and related services in India. It offers financial and concession management, tolling operations and highway management, and financial and project management services; specialized toll plaza construction and integration with the selected TMS services; and corridor and incident management integrated with HTMS services. The company was incorporated in 2006 and is based in Kolkata, India.

How the Company Makes Money

BRNL makes money through several revenue streams primarily focused on the development and management of road infrastructure projects. A significant portion of its revenue comes from toll collection from the highways and roads it operates. The company enters into long-term concession agreements with government entities, allowing it to build, operate, and maintain road projects, and in return, collect toll fees from users. Additionally, BRNL may receive annuity payments from government bodies as part of certain projects, providing a steady income stream. It also benefits from partnerships and joint ventures with other infrastructure companies, enhancing its capacity to undertake large-scale projects. Furthermore, government incentives and support for infrastructure development, including viability gap funding, contribute to its financial performance.

Bharat Road Network Ltd. Financial Statement Overview

Summary

Bharat Road Network Ltd. faces challenges in achieving stable profitability and maintaining financial health. While there are signs of improvement in net income and free cash flow, high leverage and inconsistent revenue growth pose significant risks. The company's focus should be on improving operational efficiencies and managing debt levels to enhance financial stability and shareholder value.

Income Statement

Bharat Road Network Ltd. has experienced significant volatility in its revenue and profitability metrics over recent years. The net profit margin improved substantially in the latest year, turning positive after a series of losses, indicating a potential turnaround. However, the negative EBIT and fluctuating EBITDA margins reflect operational inefficiencies and cost management challenges. Revenue growth has been inconsistent, with significant declines in recent periods.

Balance Sheet

The company exhibits a high debt-to-equity ratio, indicating significant leverage and potential financial risk. Improvements in stockholders' equity are noteworthy, but the equity ratio remains low, suggesting limited asset backing by equity. Return on equity showed improvement due to positive net income in the latest year, but historical losses have impacted overall financial stability.

Cash Flow

Cash flow metrics show some resilience, with consistent operating cash flow generation over the years. The free cash flow growth rate is positive in the latest year, though it has been unstable historically. The company demonstrates an acceptable operating cash flow to net income ratio, suggesting reasonable cash generation relative to earnings. However, the free cash flow to net income ratio reflects potential variability in cash generation capabilities.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.20B	2.74B	3.80B	3.26B	2.16B	2.99B
Gross Profit	1.68B	1.27B	2.88B	2.42B	1.39B	2.31B
EBITDA	3.00B	2.62B	1.49B	269.31M	-452.03M	2.13B
Net Income	1.18B	1.41B	-1.12B	-2.10B	-3.76B	-159.73M
Balance Sheet
Total Assets	0.00	14.35B	27.34B	27.06B	28.46B	33.24B
Cash, Cash Equivalents and Short-Term Investments	2.32B	2.23B	2.76B	2.22B	609.29M	907.22M
Total Debt	0.00	4.34B	13.28B	14.13B	14.92B	15.56B
Total Liabilities	-2.65B	10.12B	24.48B	23.07B	22.44B	22.13B
Stockholders Equity	2.65B	3.31B	1.90B	3.02B	5.09B	10.01B
Cash Flow
Free Cash Flow	0.00	246.94M	2.60B	2.51B	-63.20M	817.36M
Operating Cash Flow	0.00	768.53M	3.65B	2.59B	219.49M	2.38B
Investing Cash Flow	0.00	-518.32M	-2.08B	807.52M	1.96B	-1.57B
Financing Cash Flow	0.00	-620.46M	-2.14B	-2.50B	-2.33B	-858.27M

Bharat Road Network Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 20.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BRNL, the sentiment is Negative. The current price of 20.45 is below the 20-day moving average (MA) of 21.10, below the 50-day MA of 20.62, and below the 200-day MA of 29.78, indicating a bearish trend. The MACD of 0.27 indicates Positive momentum. The RSI at 44.89 is Neutral, neither overbought nor oversold. The STOCH value of 18.82 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BRNL.

Bharat Road Network Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RPPINFRA	72 Outperform	6.46B	9.00	12.32%	0.38%	-0.58%	-12.30%
INDBANK	65 Neutral	1.44B	18.62	9.23%	―	-5.33%	-25.00%
BRNL	56 Neutral	₹1.72B	1.02	―	―	-43.40%	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Bharat Road Network Ltd. Corporate Events

Bharat Road Network Limited Announces 18th AGM Notice Publication

Bharat Road Network Limited has announced the publication of a newspaper advertisement related to its 18th Annual General Meeting scheduled for September 26, 2025. The notice, published in ‘Financial Express’ and ‘Aajkaal’, follows the dispatch of the AGM notice and the Annual Report for the fiscal year 2024-25. This announcement is part of the company’s compliance with SEBI regulations, ensuring transparency and communication with stakeholders.

Bharat Road Network Limited Announces 18th AGM with Key Resolutions

Bharat Road Network Limited has announced its 18th Annual General Meeting (AGM) scheduled for September 26, 2025, to be held virtually. Key agenda items include the adoption of financial statements, the reappointment of a director, the appointment of a new secretarial auditor, and the approval of related party transactions. These developments reflect the company’s ongoing efforts to maintain transparency in its operations and ensure compliance with regulatory requirements, potentially impacting its governance and stakeholder relations positively.

Bharat Road Network Limited Announces Trading Window Closure

Bharat Road Network Limited announced the closure of its trading window in compliance with the SEBI regulations on insider trading. This measure is taken to ensure transparency and prevent insider trading ahead of the release of the company’s unaudited financial results for the quarter ending June 30, 2025. The trading window will remain closed until 48 hours after the financial results are announced, impacting all insiders including directors and designated persons.